BuzzFeed plans to lay off 16% of employees after selling Complex

BuzzFeed announced plans to lay off dozens of employees after offloading Complex Networks at a significant discount.The struggling digital media group, which also owns HuffPost, said it would reduce its remaining workforce by 16% as part of a strategic restructuring. This will save the firm about $23m a year, it said.It sold most of Complex, a publisher focused on streetwear and pop culture, to Ntwrk, an e-commerce group, for $108.6m – just over two years after buying the business in a $294m deal. BuzzFeed ...